The trend in business insolvencies in major developing economies differs greatly from country to country. For example, Russia has seen a significant reduction in their annual number of insolvencies, which declined from almost 36,000 in 2007 to 10,000 in 2021. On the other end of the spectrum, business insolvencies in Turkey increased over this period from just under 10,000 in 2007 to more than 17,000 in 2021. Moreover, China saw a sharp increase in insolvencies in 2020 during the COVID-19 pandemic.
Total number of business insolvencies in selected major developing economies from 2007 to 2022
(with forecasts until 2024)
Characteristic
Brazil
Russia
South Africa
Turkey**
China
India***
2024*
2,650
13,000
2,140
-
8,200
1,750
2023*
2,400
9,500
2,050
-
7,800
1,650
2022
1,857
9,055
1,907
-
7,528
1,212
2021
1,962
10,319
1,932
17,184
8,689
808
2020
2,078
9,930
2,035
15,946
11,997
736
2019
2,887
12,401
2,042
14,050
6,257
959
2018
2,751
10,282
1,845
13,593
3,602
800
2017
2,737
11,513
1,868
14,701
6,257
-
2016
2,705
10,467
1,934
12,328
3,602
-
2015
2,164
10,086
1,962
13,701
3,237
-
2014
1,734
9,407
2,064
15,822
2,613
-
2013
1,680
8,983
2,374
17,400
2,555
-
2012
1,495
10,325
2,716
16,063
2,650
-
2011
1,189
10,235
3,559
14,991
3,037
-
2010
1,308
11,194
3,992
13,442
3,715
-
2009
1,551
13,465
4,133
10,395
4,448
-
2008
1,240
17,754
3,300
9,578
4,555
-
2007
1,694
35,787
3,151
9,954
4,358
-
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Euler Hermes. (April 11, 2023). Total number of business insolvencies in selected major developing economies from 2007 to 2022 (with forecasts until 2024) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1116823/number-business-insolvencies-selected-developing-economies/
Euler Hermes. "Total number of business insolvencies in selected major developing economies from 2007 to 2022 (with forecasts until 2024)." Chart. April 11, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1116823/number-business-insolvencies-selected-developing-economies/
Euler Hermes. (2023). Total number of business insolvencies in selected major developing economies from 2007 to 2022 (with forecasts until 2024). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1116823/number-business-insolvencies-selected-developing-economies/
Euler Hermes. "Total Number of Business Insolvencies in Selected Major Developing Economies from 2007 to 2022 (with Forecasts until 2024)." Statista, Statista Inc., 11 Apr 2023, https://www.statista.com/statistics/1116823/number-business-insolvencies-selected-developing-economies/
Euler Hermes, Total number of business insolvencies in selected major developing economies from 2007 to 2022 (with forecasts until 2024) Statista, https://www.statista.com/statistics/1116823/number-business-insolvencies-selected-developing-economies/ (last visited July 22, 2024)
Total number of business insolvencies in selected major developing economies from 2007 to 2022 (with forecasts until 2024) [Graph], Euler Hermes, April 11, 2023. [Online]. Available: https://www.statista.com/statistics/1116823/number-business-insolvencies-selected-developing-economies/
